What is TRUE if the income statement credit column exceeds the income statement debit column on a worksheet?
A) The company has a net income.
B) The company has a net loss.
C) The capital account decreased during the period.
D) Total liabilities exceed total assets.

Question

Quizplus · Accepted Answer

If the income statement credit column exceeds the income statement debit column on a worksheet, it means that the company has made more revenue than expenses during the relevant period, resulting in a net income.

What Is TRUE If the Income Statement Credit Column Exceeds